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AMP wealth AUM up 5pc in 3 months

AMP Limited has reported third quarter cash flow and assets under management results, pointing to new businesses joining the Hillross dealer group and growth of its SMSF business.

In a statement released today, AMP said its wealth management business “continues to perform well with AUM of $96.7 billion as at 30 September 2013, up five per cent from $91.8 billion as at 30 June 2013”.

The statement listed wealth business highlights as the continued momentum gained by AMP’s North platform, which is up 58 per cent in terms of net cash flows on the corresponding period, as well as increasing demand for AMP Flexible Super.

Meanwhile, the SMSF business administered approximately 9,800 trustee accounts, including approximately 1,400 SuperIQ accounts as at 30 September 2013, up from 9,650 accounts as at 30 June 2013.

AMP risk insurance is up four per cent on the corresponding quarter.